Successful acquisition of British Steel by Chinese companies

On March 9, UK local time, the delivery ceremony for the acquisition of British Steel Company by China Hebei Jingye group was held in skensop, UK. British Prime Minister Johnson warmly welcomed the news, according to sky. He described the impact in these steel plants as reverberating in the steel producing areas of the UK for a long time. Under the leadership of dedicated group, British steel companies are taking a new step, and we are sure that the voices of those steel companies will be heard in the coming decades.

The successful acquisition of Chinese companies means that Britain's second-largest steel company has come back from the dead and 3200 local jobs have been saved. Dedicated group plans to invest 1.2 billion pounds (10.9 billion yuan) in upgrading British Steel Companies in the next 10 years.

In 2016, Grenoble capital management acquired a unit of Tata Steel UK for a symbolic £ 1 price, and named it British steel, making a profit in 2017. However, due to the weakness of the British pound and the uncertainty of brexit, British steel companies cut staff significantly in 2018 and carried out bankruptcy liquidation procedures in May 2019.